My bank made an error when they made the very first RMD out of my IRA account in October 2019. They neglected to distribute the federal and state tax amounts that I had requested. I wound up paying these taxes when I filed my 2019 forms.
In February 2020, the bank did distribute the correct amounts to the IRS and to the California Franchise Tax Board. The 2020 1099-R form that I entered into my 2020 Turbo Tax program reflects a gross distribution that is the sum of the 2019 and 2020 gross distribution amounts. On the 2020 1099-R form, box 2a has a taxable amount of $0 and box 7 has a distribution code of "R". The IRA/SEP/SIMPLE box is blank.
Based on this, the 2020 TurboTax program informed me that I need to amend my 2019 tax form. My questions are:
- Do I enter the 2020 1099-R form details on my 2020 taxes?
- Do the 2020 1099-R form details get added to my amended 2019 taxes as an additional 1099-R or are they used to override the earlier 2019 1099-R details that were part of last year's original 2019 file taxes?
Thank you
